Genworth Financial, Inc. $GNW Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in shares of Genworth Financial, Inc. (NYSE:GNW) by 21,643.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 562,936 shares of the financial services provider’s stock after buying an additional 560,347 shares during the period. Fifth Third Bancorp’s holdings in Genworth Financial were worth $4,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Genworth Financial by 12,597.7% in the third quarter. Larson Financial Group LLC now owns 5,587 shares of the financial services provider’s stock valued at $50,000 after buying an additional 5,543 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Genworth Financial in the 2nd quarter worth approximately $44,000. Danske Bank A S acquired a new stake in shares of Genworth Financial in the 3rd quarter worth approximately $60,000. Rockefeller Capital Management L.P. grew its holdings in shares of Genworth Financial by 124.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,159 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 3,966 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in Genworth Financial by 140.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,063 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 4,708 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genworth Financial

In other news, Director Robert P. Restrepo, Jr. sold 50,000 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $9.12, for a total value of $456,000.00. Following the completion of the transaction, the director directly owned 92,655 shares of the company’s stock, valued at $845,013.60. The trade was a 35.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Thomas J. Mcinerney sold 100,000 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $9.27, for a total value of $927,000.00. Following the completion of the sale, the chief executive officer owned 5,368,883 shares in the company, valued at $49,769,545.41. This represents a 1.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings raised Genworth Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods raised their price target on Genworth Financial from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Wall Street Zen raised Genworth Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Zacks Research upgraded shares of Genworth Financial to a “hold” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Genworth Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Genworth Financial Stock Up 0.7%

GNW stock opened at $10.09 on Friday. The company’s 50 day simple moving average is $9.14 and its 200-day simple moving average is $8.78. The firm has a market capitalization of $3.86 billion, a PE ratio of 19.40 and a beta of 0.85. Genworth Financial, Inc. has a 12 month low of $7.32 and a 12 month high of $10.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.29 and a quick ratio of 0.29.

Genworth Financial (NYSE:GNW) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. Genworth Financial had a return on equity of 1.73% and a net margin of 2.96%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.72 billion. Equities analysts expect that Genworth Financial, Inc. will post 1.1 earnings per share for the current fiscal year.

About Genworth Financial

Genworth Financial (NYSE: GNW) is a leading financial security company offering a broad range of insurance products. Based in Richmond, Virginia, Genworth provides individuals and families with solutions designed to protect against long-term care expenses, secure life insurance needs and support homeownership through private mortgage insurance. With operations spanning the United States, Canada and Australia, the company serves both retail and institutional clients through a diversified portfolio of risk management services.

The company’s Private Mortgage Insurance (PMI) segment offers coverage to lenders and consumers in the US, Canada and Australia, enabling homebuyers to purchase properties with lower down payments.